Alibaba Plans Big Spending
Alibaba.com Corp will invest 10 billion yuan ($1.3 billion) over the next 3-5 years to integrate all sectors linked to e-commerce.
Alibaba.com wants to have a complete industry chain to facilitate small companies' overseas sales.
Money will be invested to:
1. strengthen is online B2B trader matching
2. online payment
3. online auctions
4. improve e-commerce infrastructure
Founder and CEO Jack Ma wants to instigate reforms that the government "still hasn't any budget for" due to more important businesses to attend to.
Alibaba has/will:
1. worked with banks to develop Alipay.
2. worked with China Post to penetrate underdeveloped e-commerce regions like rural areas
3.expand into Taiwan and Japan
Alibaba has six business segments:
1. Alibaba.com for B2B,
2. Taobao.com for online auction,
3. Alipay,
4. China Yahoo that it took over in 2005,
5. Alisoft for business software
6. Alimama.com, an online ad-trading platform that is still being tested.
If the government can't do it…then Jack Ma will do it himself.
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